JPMorgan Chase & Co. Grows Holdings in Iron Mountain Incorporated $IRM

JPMorgan Chase & Co. increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,056,448 shares of the financial services provider’s stock after buying an additional 83,450 shares during the period. JPMorgan Chase & Co. owned about 0.70% of Iron Mountain worth $209,634,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IRM. State of New Jersey Common Pension Fund D increased its position in shares of Iron Mountain by 3.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 100,341 shares of the financial services provider’s stock worth $10,229,000 after purchasing an additional 3,329 shares during the last quarter. Aberdeen Group plc lifted its stake in Iron Mountain by 12.7% in the third quarter. Aberdeen Group plc now owns 382,634 shares of the financial services provider’s stock valued at $38,397,000 after buying an additional 42,971 shares during the last quarter. BTC Capital Management Inc. bought a new stake in Iron Mountain in the 3rd quarter valued at about $292,000. Naviter Wealth LLC raised its holdings in shares of Iron Mountain by 3.0% during the third quarter. Naviter Wealth LLC now owns 23,005 shares of the financial services provider’s stock valued at $2,363,000 after buying an additional 664 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Iron Mountain by 8.0% during the 3rd quarter. Assetmark Inc. now owns 2,900 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 214 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRM. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Barclays reiterated an “overweight” rating and issued a $126.00 price target on shares of Iron Mountain in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

Iron Mountain Price Performance

Shares of IRM opened at $110.24 on Friday. The business’s 50-day moving average is $91.13 and its 200-day moving average is $94.11. The company has a market capitalization of $32.61 billion, a price-to-earnings ratio of 229.66 and a beta of 1.16. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $111.63.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Monday, March 16th will be paid a dividend of $0.864 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.1%. Iron Mountain’s dividend payout ratio (DPR) is 720.83%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total value of $5,760,877.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $83.10, for a total value of $498,600.00. Following the sale, the executive vice president directly owned 55,081 shares of the company’s stock, valued at $4,577,231.10. This trade represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 119,607 shares of company stock worth $9,970,025. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.